A rational decision maker will take only those actions for which the expected marginal benefit
a. is positive
b. is at its maximum level
c. is greater than or equal to the expected marginal cost
d. is less than the expected marginal cost
e. exactly equals the expected marginal cost
C
Economics
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How is the mean calculated from a series of observations? Suppose 5,000 people bought popsicles on a hot summer day. If the average number of popsicles that each person bought is 2, how many popsicles were sold that day?
What will be an ideal response?
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Which of the following is not a legal barrier to entry in a monopolized market?
a. A patent. b. An exclusive franchise. c. Decreasing average cost. d. An exclusive license.
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